State Bank of India (SBI) has initiated a nationwide campaign to raise awareness about the importance of reactivating inoperative accounts. Accounts are deemed inoperative if no transactions occur for over two years, and reactivation requires a Re-KYC process. The campaign emphasises the necessity of maintaining regular transactions to avoid accounts being categorised as inoperative.
Ahead of the campaign launch, SBI conducted a one-day workshop in Gurugram for its national business correspondents, focusing on the activation of inoperative accounts and the significance of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts. The workshop also introduced an Artificial Intelligence (AI) and Machine Learning (ML) model for categorising Customer Service Points (CSPs) based on risk profiles. This technological innovation underscores SBI’s commitment to enhancing risk management, operational efficiency, and regulatory compliance while improving customer service.
Speaking at the event, Shri C. S. Setty, Chairman, SBI, emphassed the importance of Re-KYC efforts and maintaining active PMJDY accounts. He encouraged participants to contribute to the ongoing DFS Campaign for Jan Suraksha Schemes at the Gram Panchayat level, running from October 15, 2024, to January 15, 2025. Shri Setty urged business correspondents to adopt technology-driven solutions to bridge service gaps and reach underserved customers, thereby enhancing financial inclusion.
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The initiative also highlights SBI’s continued efforts to launch new products and improve customer services, making its channels more robust and customer-centric.
Through this campaign, SBI reinforces its dedication to empowering citizens with seamless banking experiences while driving financial inclusion across the country.
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